Entering text into the input field will update the search result below

Manning & Napier updates on legacy ownership exchange

Mar. 30, 2015 4:28 PM ETManning & Napier, Inc. (MN) StockBy: Stephen Alpher, SA News Editor
  • Legacy shareholders - the founder, management team, and certain others - have the opportunity to each year exchange a portion of their interests in Manning & Napier Group, LLC. As a result the company repurchased 3.161M Class A units for $11.49 each (a 5% discount to the average close the previous 15 days).
  • The company also announces the completion of previously disclosed repurchase of Class A units of the LLC, and it intention to issue 1.411M shares of restricted stock as part of a long-term incentive plan.
  • The result is a reduction in share count to 83.9M from 88.1M, with the management team owning about 12% of NYSE:MN.
  • Source: Press Release

Recommended For You

More Trending News

Related Stocks

SymbolLast Price% Chg
MN--
Manning & Napier, Inc.